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“It’s a pity that Saneun’s support method for Hanjin has not been publicized”
Kang Seong-bu, chairman of KCGI, an activist private equity fund, which has confronted Chairman Cho Won-tae over Hanjin Group’s management rights, said on the 25th that he awaited a fair trial by the court, saying that KDB’s method of support for Korean Air’s acquisition of Asiana Airlines is not common sense.
Kang told Yonhap News and Tonghua that KDB’s support for Korean Air’s acquisition of Asiana Airlines was “a strange and strange structure.”
Earlier, KDB announced that it is pursuing a plan to strengthen the competitiveness of the aviation industry, which includes providing financing to Hanjin through the acquisition of new shares in Hanjin Kal, the parent company of Korean Air.
CEO Kang said: “In the past, KDB has never provided support for any M&A case, unless it is an investment conversion, with the structure of owning corporate shares.
In the case of investment banks, it is noted that it does not make sense for the KDB to opt for direct investment in stocks by taking risks and investing in direct stocks in the M&A process.
He sighed, “It is a deal structure that cannot be established unless you guarantee the management rights of President Cho Won-tae,” he sighed.
Representative Kang said, “The reason civic groups are criticizing this agreement is because I think there is some kind of inconvenient consensus,” he said. said.
He criticized: “I wonder what is different from Chinese socialism in this way,” and criticized “It seems natural that there is a ‘Korean discount.
Representative Kang awaited the court’s ruling regarding the KCGI’s request for a temporary injunction.
“I hope the court will show that law, order and investor protection is a functioning country,” he said.
The 50th Civil Settlement Division of the Seoul Central District Court (Chief Deputy Judge Lee Seung-ryun) will hold an interrogation date on the 25th in connection with the KCGI’s request for a temporary injunction against the issuance of new actions against Han Jin Kal.
The bank said: “If the court cites a request for an interim injunction, the combined transaction between Korean Air and Asiana Airlines will be destroyed.”
/ yunhap news
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